While the breaks in the supply chain cause the prices of many assets to fluctuate strongly around the world, the concern of inflation continues to increase its impact on the markets.
Although the temporary budget bill was approved in the Senate and the House of Representatives in the USA yesterday, the New York stock market fell sharply under the leadership of energy and retail companies, while the negative trend in question moved to the new day with Asian stock markets.
While energy supply is one of the main items of the agenda in Europe and Asia, public companies in China have been instructed to ensure energy security at all costs and to avoid supply problems in this regard.
Natural gas prices continue to rise in Europe. Natural gas futures rose 90.2 percent from 51.4 euros to 97.8 euros in September.
Analysts stated that the increasing need for heating is expected to have serious effects on consumer expenditures as the winter season begins to make itself felt in Europe, and pointed out that the inflationary effects of this situation may be strong.
Yesterday, the S&P 500 index lost 1.19 percent, the Dow Jones index fell 1.59 percent and the Nasdaq index lost 0.44 percent in the New York stock market. The monthly decline of indices, on the other hand, approached 5 percent on average, pointing to poor performance since March 2020. Index futures contracts in the New York stock exchange started the new day with a sales-oriented course.
European stock markets followed a sales-heavy trend yesterday due to concerns about global stock markets and energy supply, while the Euro continued to depreciate against the dollar, reaching its lowest level since July 2020 with 1.1562. The pair is trading at 1.1580 today.
The FTSE 100 index decreased by 0.31% in the UK, the DAX index decreased by 0.68 percent in Germany, the CAC 40 index decreased by 0.62 percent in France and the MIB 30 index decreased by 0.21 percent in Italy. Index contracts in futures are also selling at the opening of the new day.
In Asia, supply chain and energy supply concerns are strongly priced in the Asian market as China enters a week-long holiday.
According to the data announced in Japan, the unemployment rate decreased to 2.8 percent, while the Manufacturing Industry Purchasing Managers Index (PMI) rose to 51.5.
With these developments, the Nikei 225 index in Japan decreased by 2.27 percent and the Kospi index in South Korea by 1.56 percent, close to the closing.
BIST 100 index in Borsa Istanbul, which differed positively from the global stock markets yesterday, finished the day at 1,406.39 points, 1.04 percent above the previous closing.
Dollar/TL, on the other hand, is trading at 8.8750 at the opening of the interbank market today, after closing at 8.8902 with a decrease of 0.38 percent yesterday.
On the other hand, the President's Decision, which includes extending the period of withholding support for Turkish lira (TL) deposits until the end of the year, was published in the Official Gazette.
Analysts reported that today, along with the worldwide manufacturing industry PMI data, an intense data agenda, especially personal income and personal expenditures, will be followed in the USA.
Technically speaking, the 1.390 and 1.370 levels in the BIST 100 index are in the support position, and the analysts said that the 1.420 points stand out as resistance.
The data to be followed in the markets today are as follows:
10.00 Turkey, September manufacturing industry PMI
10.55 Germany, September manufacturing PMI
11.00 Eurozone, September manufacturing PMI
11.30 UK, September manufacturing PMI
15.30 US, August personal income and expenses
16.45 US, September manufacturing PMI
17.00 USA, September University of Michigan consumer confidence index
17.00 US, August construction expenditures
17.00 US, September ISM manufacturing PMI
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